“When it comes to making the world a better place, talented young people are the world’s most important assets. That’s good news for Nigeria because it has one of the biggest young populations in the world.”
– Bill Gates, Co-Chair of the Bill and Melinda Gates Foundation.
Recently, the Pan-African Youth Innovation Forum, put together by the Lagos Business School, Co-Creation Hub, and the Centre for Communication and Social Impact hosted Bill Gates, Co-Chair of the Bill and Melinda Gates Foundation, to a hybrid event themed Unleashing the Power of Youth and Innovation at the Lagos Business School. The event which was hosted by Bosun Tijani, a Nigerian-British entrepreneur and CEO of Co-Creation Hub, saw Gates give valuable insights as well as express optimism for many aspects of the Nigerian economy.
Speaking on education and the role of the youth in economic development, Gates opined that Nigeria is lucky to have some great educational and research institutions across the country and it is something to build on. “When we think about youth, the subjects of health and education are very important. And when it comes to making the world a better place, talented young people are the world’s most important assets,” said Gates. “That’s good news for Nigeria because it has one of the biggest young populations in the world.”
Speaking on talent, innovation, and the startup ecosystem, Gates believes that Nigeria is a hub for venture capital and financial technology. “As the world keeps innovating, it (the startup ecosystem) could become a great combination of both domestic and global innovation that collaborates to improve lives in Nigeria,” he argued. He noted that across all areas of the Nigerian economy, creativity and entrepreneurship are quite optimistic that despite all huge challenges, “Nigerians would have a great future and bring wonderful things to the world.”
Lending his voice to the global call for governments and stakeholders (including the private sector) to empower the youth for nation-building, the globally acclaimed philanthropist further stated that talent determination would be key to reducing the big equity gaps in Nigeria, citing examples of what young Nigerians are doing in fintech. Before becoming a philanthropist, Gates was a technology expert. He is the founder of the technology behemoth, Microsoft.
Other areas he touched on include healthcare for women and children and agriculture. He spoke about huge gaps in the health and education sectors. According to Gates, across the country, maternal mortality and the quality of child nutrition vary differently.
“In some Nigerian states, women have great assistance during childbirth. But in over 90% of the states, women deliver their babies at home,” he said. “We can have ambitious goals like improving the health of mothers, getting food to become more nutritious so that all children in Nigeria can achieve their full mental and physical capabilities. We can give women more options and empower them.”
Africa is the world’s second-largest and second-most-populous continent, after Asia in both cases. Google estimates that Africa covers 6% of the earth’s total surface area and houses 20% of its land area. But the continent is a net importer of food. Last year, Nigeria imported N9 trillion ($11.5 billion) worth of food products, a 5% increase compared to the N2 trillion ($2.55 billion) recorded the previous year.
“Africa, including Nigeria has great lands. There is no reason for the continent not to be the next exporter instead of being a net importer. Magic seeds plus digital innovation will let us increase agricultural productivity. And that feeds back to nutrition and health. It will also enable investments along with education,” Gates advised.
